Middle East

Israel's economy grew by annualized 6.2% in Q4 2016

Israel's economy grew by an annualized 6.2% in the last quarter of 2016، marking the strongest quarterly performance since the second quarter of 2013، the Central Bureau of Statistics said، according to Israel Hayom.The economy grew by an annualized 4.2% in the third quarter of 2016 and 5.3% in the second quarter. The data showed that، year on year، the economy grew by 5% in the second half of 2016، following a 3.2% growth in the first half of the year.The increase in gross domestic product in the second half of 2016 reflected a 3.5% increase in public consumption، and a 2.9% growth in private consumption per capita. The exports of goods and services، excluding diamonds and startups، were up 4.5% in 2016 and investments in fixed assets climbed 10.2%، while imports of goods and services went up by 10.6% in the second half of 2016، the report said.